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Although crimes of a modern society have some new dimensions, not all aspects are entirely new. This paper examines product counterfeiting in a new light, considering some older theoretical ideas. Gould (1969) realized that theft is most likely to occur during the period of accelerated interest in a product – neither the beginning nor the end of its life cycle. We posit that product counterfeiting also occurs during that intermediate phase. We argue that such counterfeiting reflects the markup price from a brand name, and is greatest for brands of intermediate popularity – not out of reach to the public, but not available in every store. We also suggest that routine activities involved in the legal sale of items set the stage for illegal sales of counterfeited goods. We close by noting the value of theories of the middle range and theories that keep in mind tangible places, settings, and products.